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Putting a number on the cost of failing

May 31, 2017

 

I was at the GEM business school on Monday (hi folks!) for year-end celebrations, a time where most students are pondering with what to do next. More and more have student debt to pay back, so a safe job in a big corp. is often the default option. The cost and risk of launching a startup is often too daunting.
 
Interestingly, not many can put forward a number, or even an order of magnitude. Would that help if you could put a number on the cost of failing? What is the cost of funding your business up to MVP validation or seed funding? What are the revenues you will not be making for the X months you'll need to reach that stage?
 
In fact, it's simple and useful enough to do that we'll add this to our projects' methodology, so you know what you'd put in the balance, shall you decide to give your idea a go.
 
Nigel is waiting for someone to work with him on bridging the cashback and loyalty programs, and Algae as the food of the future is still up for grabs if you are interest Francois
 
Keep rocking, onwards
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